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Dwyane Wade opts out of Heat contract to become free agent, according to report

Rumors suggest there's a gap between Wade and the Heat on a new deal. Could he sign elsewhere?

Dwyane Wade will indeed opt out of the one year and $16.1 million remaining on his contract with the Miami Heat for the 2015-16 season, according to ESPN's Ramona Shelburne. Wade will now become an unrestricted free agent on the open market Wednesday.

The 33-year-old Wade reportedly wants to remain in Miami, but would like to make back some of the money he's left on the table in previous seasons, as he's never been the highest paid player on his own team. Wade would like a three-year deal worth around $60 million, according to the Miami Herald's Joseph Goodman.

The Heat, however, want Wade to once again take less money so that the team can pursue stars like Kevin Durant during the 2016 offseason. The only two Heat players currently signed through 2016 are Chris Bosh and Josh McRoberts. Pat Riley had been hoping that Wade would play out the final season of his current deal, then allow Miami to use its open cap space to improve the team before agreeing to a new contract, but that won't happen. Wade wanting a long-term deal could throw off that entire plan.

Recent reports have shown the Heat and Wade to be far off in their current negotiations. One had the Heat offering Wade less than $10 million per year. Another had Wade interested in signing with the Lakers. There have also been weird Snapchat messages and wardrobe choices that have linked Wade to the Cavaliers.

Wade, who was selected by Miami with the No. 5 pick in the 2003 NBA Draft, has spent 12 years with the Heat. He's won three NBA championships, played in 11 All-Star Games, and is the team's all-time leader in points, assists, steals, games and minutes played. Last season, he averaged 21.5 points and 4.8 assists but missed 20 games due to various injuries.

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